Banco Hipotecario S.A. reports Fourth Quarter 2015 results

BUENOS AIRES, Argentina, Feb. 11, 2016 /PRNewswire/ -- Banco Hipotecario S.A. (BCBA: BHIP) reports Fourth Quarter 2015 results.

Highlights
Executive Summary

• Total net income for the year was Ps. 1,085.8 million, 97.4% higher than Ps. 550.0 million of 2014. Net income for the fourth quarter was Ps. 522.7 million, compared to Ps. 217.5 million and Ps. 46.3 million of last quarter and same quarter of previous year, respectively.
      
• Net financial margin for the year was Ps. 3,034.5 million and Ps. 2,321.5 million for 2014. Net financial margin for the quarter was Ps. 1,211.6 million, compared to Ps. 684.0 million of last quarter and Ps. 452.1 million of same quarter of last year.
     
• Aggregated net income from services of Ps. 3,025.6 million 58.4% higher than 2014. Net income from services for the quarter was Ps. 842.2 million 8.9% higher than previous quarter, and 35.3% higher than fourth quarter 2014.
      
• Loans to the private sector increased 3.2% in the quarter and 19.9% YoY.
     
• Deposits increased 3.9% in the quarter and 11.2% YoY growth.
      
• NPL decreased to 2.0% from 2.3% of 2014. Coverage ratio was 105.8%.
     
• Equity ratio of 13.8%, compared to 14.0% of 2014.
     
• The Bank has issued a US$ 200 million 9.75% bond due 2020 in the international capital markets. Also, the Bank has acquired and cancelled US$ 122.7 million of the outstanding Series 5 international bond. 

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SOURCE Banco Hipotecario S.A.

Related Links

http://www.hipotecario.com.ar